August 2, 2022
Peter Orazem, university professor, was interviewed by Marketplace for the story "Would government price controls help solve our inflation problem?" The Marketplace story examines whether a temporary wage and price freeze by the US government would mitigate the possibility of a recession.
Discussing the difficulty of the government figuring out prices for millions of products, Orazem told Marketplace “Prices may not be the same everywhere. Some places may have too much of a product, and other places have too little. You want the product to move from places where you have surplus to places that have shortages, and the price signals create that incentive.”